Costing Accountant

alfanar; Riyadh; On-site; SAR 150,000 - 200,000; Full time

Job summary

A leading electrical products manufacturer located in Riyadh is seeking a Cost Accountant to manage and analyze cost expenditures. The ideal candidate will possess a Bachelor's Degree in Accounting and Finance with 2 to 4 years of experience. Responsibilities include conducting monthly cost analysis, ensuring compliance with quality standards, and reporting on budget vs. actual costs. The company fosters a proactive work environment focused on employee growth and high-quality standards for their diverse range of products.

Benefits

Professional development opportunities

Dynamic work environment

Qualifications

• 2 to 4 years of experience in cost accounting.
• Ability to analyze costs effectively and provide insights.
• Familiarity with cost accounting best practices.

Responsibilities

• Oversee monthly cost reporting and adjustments.
• Analyze production and inventory variances.
• Ensure compliance with safety and quality standards.

Skills

Cost Accounting

Cost Analysis

Problem Solving

Education

Bachelor Degree in Accounting and Finance or relevant field

Job description

Overview

Job description:

Job Purpose

This position exists to oversee and analyze cost expenditures and purchases efficiently, in timely manner and quality standards as per thedefined policies and procedures to achieve departmental operational plans and developments within widerscope.

Responsibilities

Actual Costing:

• Monthly Coordination with production to finalize all actual activities & Closing orders
• Monthly Checking all actual data posted by production & make required adjustment if required.
• Monthly Processing period end closing & posting (WIP, Variances, Un-realizes cost, etc.)
• Monthly posting all costing entries & provisions.
• Monthly Checking & Analyzing for the result of period end closing.
• Monthly checking expenses & make adjustment if required
• Monthly Settlement for investment internal orders to AUC & Cost center
• Design and updating distribution cycle to allocate service & General cost center costs
• General Problem Solving For Costing Issues, Supervising, Supporting, etc.

Standard Costing:

• Preparing planned costing data with agreed plant activity
• Enter standard cost & standard plant activity in the system and calculate the rate.
• Maintain & Updating activities rate for production work centers
• Regularly Check & adjusting materials master.
• Regularly Check master data (BOM & Routing) & inform planning to make required adjustment.
• Material Costing run, to calculate planned cost.
• Maintain production orders overhead percentage.
• Upload overhead costs to production orders based on that maintained percentage.
• Regularly Analyzing cost for items & coordinating with planning for any correction
• Regularly Release the cost for related items.

Costing & Controlling Analysis:

• Analyze WIP & provide justification for major orders.
• Analyze Un-realized cost & provide justification for major orders
• Identify and analyzing production, purchasing, and inventory variances
• Controlling on actual time posted by comparing with routing & making proper reporting to management.
• Preparing master consumption report with proper adjustments
• Controlling on actual consumption & monitoring irregularities cost for material & reporting to management

Monthly Controlling ORM & Financial Reports:

• Monthly preparation of consumption & production masters.
• Monthly preparation of costing statement per product type.
• Prepares special costing reports,
• Monitoring actual vs. budget & standard costing reports & variance analysis
• Preparing best estimation costing reports

Role Accountability

HR Proficiency:

• Ability to obtain updated soft and technical skills related to the job.

Delivery:

• Perform the planned activities to meet the operational and development targets as per delivery schedules.
• Utilize resources effectively to achieve objectives within efficient cost and time.
• Provide a periodic report formatted by detailing the deviation and execution of planned tasks.

Problem-Solving:

• Solve any related problems arise and escalate any complex operational issues.

Quality:

• Ensure quality requirements to develop effective quality control and processes including specifications for products or processes or related activities.

Business Process Improvements:

• Coordinate well-defined written systems, policies, procedures, and seek automations opportunities as much as possible.

Compliance:

• Comply to related policy and procedures and work instructions.

Health, Safety, and Environment:

• Ensure compliance of relevant safety, quality, and environmental management procedures and controls within defined area of work activity to guarantee safety, legislative compliance, and delivery of high-quality products/services.

Qualifications

Academic Qualification: Bachelor Degree in Accounting and Finance or Any relevant field

Work Experience: 2 to 4 Years

Technical / Functional Competencies: Cost Accounting, Cost Accounting Best Practices, Cost Accounting Systems, Cost Analysis, Industrial Cost Analysis

Profile description

Alfanar is a Saudi company with an international presence, primarily engaged in the manufacturing and trading of a wide variety of low, medium, and high voltage electrical products, in addition to its portfolio of conventional and renewable energy solutions, oil and gas, water treatment, infrastructure, technical services, and digital solutions.

The hub of alfanar’s manufacturing operations is Medinet alfanar Alsinaiya, a 700,000 square-meter complex located in Riyadh. The complex houses an array of ultra-modern manufacturing facilities and laboratories equipped with state-of-the-art technologies and staffed with highly skilled professionals.

alfanar derives its success from its commitment to providing the highest quality standards to its customers, and the continuous development of its human capital, who alfanar considers its most valuable asset. With this in mind, alfanar promotes a proactive work environment where its employees are always valued, nurtured, and empowered to fuel their pride in being part of alfanar.

For more information about alfanar, please visit alfanar.com